SALIC and Riyadh Development Company (ARDCO) Sign a MoU to Enhance Food Security in Saudi Arabia

SALIC, a subsidiary of the Public Investment Fund, has signed a Memorandum of Understanding (MoU) with Riyadh Development Company (ARDCO). The MoU aims to enhance the Kingdom’s public benefit markets by improving agricultural value chains and supporting services, enabling farmers to access multiple markets and contributing to the nation’s food security objectives.

This agreement aligns with the shared vision of both entities to strengthen the Kingdom’s agricultural infrastructure, improve logistics, and boost distribution efficiency. The collaboration further aims to promote sustainability within the agricultural sector and explore geographic expansion throughout the Kingdom, thereby enhancing supply chain efficiency and facilitating regional integration.On this occasion, Eng. Sulaiman bin Abdulrahman AlRumaih, GCEO of SALIC, stated:

AlRumaih added, "SALIC will utilize its expertise in developing food supply chains both locally and internationally, applying the latest technologies and innovative solutions to enhance operational efficiency across the value chain, ensuring the sustainable availability of food products within the Kingdom."

Jehad bin Abdulrahman Alkadi, CEO of Riyadh Development Company (ARDCO), commented, "Riyadh Development Company launched its strategy in early 2023 under the slogan 'Investing for Growth', with a priority to achieve leadership in the fresh produce industry and leverage our company’s strong position in this market, where we handle about 60% of the fresh produce traded in our markets across Saudi Arabia. This agreement will enable us to develop agricultural markets and enhance the logistics service ecosystem to meet the growing demand in the agricultural and consumer sectors."

Alkadi further noted, "Leveraging our expertise in asset development and management will also allow us to improve operational efficiency and digitize processes, maximizing growth opportunities in value chains in alignment with SALIC’s established systems and expertise. This will open new markets and prospects for farmers, thereby enhancing food security and sustainable growth in the Kingdom."The MoU was signed by Eng. Sulaiman bin Abdulrahman AlRumaih, GCEO of SALIC, and Mr. Jehad bin Abdulrahman Alkadi, CEO of Riyadh Development Company (ARDCO).